Reliance Communications like other telecom companies have been hurt by intense price war unleashed by newcomer RJio. The company reported a loss of Rs 948 crore in March quarter, compared to a net profit of Rs 79 crore in year-ago period.

Reliance Communications’ chairman Anil Ambani is expected to address the media amid falling shares and plunging bonds, according to business channel ETNow. This comes at a time when rating agencies Moody’s and Fitch have downgraded the company. Moody’s Investors Service has downgraded Reliance Communications’ corporate family rating and senior secured bond rating on account of weak performance and “fragile” liquidity position. Fitch on Thursday also downgraded Anil Ambani-led Reliance Communications (RCom) to CCC.

Reliance Communications’ chairman Anil Ambani is expected to address the media amid falling shares and plunging bonds, according to business channel ETNow. This comes at a time when rating agencies Moody’s and Fitch have downgraded the company. Moody’s Investors Service has downgraded Reliance Communications’ corporate family rating and senior secured bond rating on account of weak performance and “fragile” liquidity position. Fitch on Thursday also downgraded Anil Ambani-led Reliance Communications (RCom) to CCC.

The company’s stocks had witnessed heavy selling on Monday, tanking over 20 per cent. The stock was down over 2 per cent on Tuesday also. On Wednesday, Reliance Communications shares ended on a flat note.

However, the company’s stocks were trading 3.75 per cent up at Rs 20.75 on Thursday.

We take a look at 5 things amid which Anil Ambani would address the media on the company’s debt woes

1. Reliance Communications like other telecom companies have been hurt by intense price war unleashed by newcomer RJio. The company reported a loss of Rs 948 crore in March quarter, compared to a net profit of Rs 79 crore in year-ago period.

2. Its net debt rose to Rs 44,345 crore at the end of the fourth fiscal quarter of the financial year 2017 as compared to Rs 2,803 crore at end of the third fiscal quarter.

3.The company has tried to allay investors’ fears and said that it is attempting to tackle its debt issues by forging a merger with a smaller rival and selling an interest in its tower segment. It also cash flows from operations turned negative in the period ended March 31. It had said that it plans to repay Rs 25,000 crore worth of loans to its lenders with proceeds from its deals with Aircel and Canada’s Brookfield Infrastructure. The company expects lenders consent for sale of tower business and Aircel deal in the next few months. Reliance Communications is merging its wireless business with rival Aircel and is also selling a 51 per cent stake in its radio masts business to Canada’s Brookfield Infrastructure Group for Rs 10,000 crore. The company has also said that it aims to further cut debt by selling real estate in Delhi and Navi Mumbai.

4. Fitch Ratings has downgraded Reliance Communications to CCC, further down in the junk category, implying that the some kind of default on the company’s debt is now a “real possibility”.

5. Moody’s on Tuesday reduced the rating of the company to Caa1 (reflecting poor quality and very high credit risk) from B2 (speculative and high credit risk).

6. Rating agencies ICRA and CARE have also revised their ratings on the company’s loan facilities citing company’s weak operating performance, high leverage, the weak internal cash flow generation against sizeable debt servicing obligations and delays in debt servicing by the company.

7. RCom’s customer base fell to 84.7 million subscribers as at the end of March, from 87.7 million at the end of December following free services offered by Jio weighed. The firm said average revenue per user also fell 8.4 per cent to Rs 141 in the fourth quarter, from Rs 154 in the three months to December.